Is Your ERP System Holding Your Business Back from eCommerce Success?
Having an ERP system that supports Multi-Channel eCommerce for both B2C and B2B sales is crucial.
Enterprise Resource Planning (ERP) software connects your most critical business processes, such as sales order management, procurement, warehouse management, manufacturing, finance and reporting.
Integrating ERP with eCommerce automates sales orders, inventory and customer details, ensuring efficient and accurate eCommerce interactions for both customers and employees.
Seamless data transfers between your ERP and eCommerce systems makes sure orders are sent directly to your ERP system, with real-time mirroring of inventory updates in the eCommerce platform.
This integration also enables all product data to be pulled from your ERP system into your eCommerce site. Many businesses still find their current ERP solutions fall short in several key areas.
Some issues affecting your eCommerce success can be identified and effectively addressed with the right solutions.
Common ERP Challenges in eCommerce:
Limited Multi-Channel Support
Does your ERP system support Multi-Channel eCommerce?
If not, your business might struggle to manage sales across various platforms, including your website, online marketplaces and physical stores. This can lead to missed opportunities and revenue losses as customers increasingly expect seamless experiences across all channels.
BDO, in their 2023 insights, indicated that multi-channel eCommerce is crucial as businesses utilising multiple sales channels can see up to a 30% increase in revenue (BDO).
Integration Complexities
Many traditional ERP systems require costly and complicated integrations with eCommerce platforms and marketplaces. This adds to your operational costs also introduces potential points of failure. If your ERP cannot easily integrate with popular eCommerce solutions, it may cause delays, data inconsistencies and inefficiencies in your sales processes.
PwC, in their 2023 webcast library, emphasised that integrating ERP with eCommerce systems results in significant efficiency gains. Companies with integrated systems reported a 49% improvement in business processes, including streamlined sales orders, inventory management and customer service (PwC).
eCommerce Functionality Deficiencies
Does the eCommerce website provided by your ERP solution lack essential eCommerce functionalities?
A robust eCommerce site should offer features like user-friendly navigation, comprehensive product information, secure payment options and efficient order management. If your ERP’s eCommerce module doesn’t meet these standards, it could be driving potential customers away.
PwC noted in their 2023 report that many traditional ERPs lack essential eCommerce functionalities, leading to poor user experiences and lower conversion rates. Modern ERPs address these deficiencies with features like user-friendly navigation and real-time inventory updates (PwC).
Conversion Rate Issues
领英推荐
Is your ERP’s eCommerce website converting customers at a rate below your industry standard?
This is often due to poor user experience, slow load times or inadequate marketing tools. Improving your conversion rate is vital for boosting sales and revenue.
Deloitte emphasised in their 2023 insights that modern ERP systems with advanced eCommerce functionalities, such as personalised marketing tools and AI-driven product recommendations, can significantly boost conversion rates and overall sales performance.
The Importance of a Cloud Based ERP for eCommerce
If any of the above challenges resonate with you, it’s clear that your current ERP system might be costing you valuable revenue. Modern, Cloud based ERP solutions are designed to support Multi-Channel eCommerce efficiently and help you overcome these obstacles.
Scalability and Flexibility
Cloud based ERPs offer the scalability needed to support your business growth, whether you're expanding locally or globally. They provide the flexibility to adapt to new sales channels and changing market conditions without requiring extensive reconfiguration.
BDO highlighted in their 2023 report that cloud-based ERP systems offer scalability and flexibility, allowing businesses to adapt to new sales channels and market conditions without extensive reconfiguration (BDO).
Enhanced Integration
With a Cloud based ERP system, integrating with leading eCommerce platforms and marketplaces is straightforward and cost-effective. This seamless integration ensures that your sales, inventory and customer data are synchronised across all channels, leading to better decision-making and customer satisfaction.
Advanced eCommerce Features
Modern ERP solutions come with advanced eCommerce functionalities, including AI-driven product recommendations, real-time inventory updates and personalized marketing tools - all of which contribute to higher conversion rates.
Improved Conversion Rates
A significant benefit of switching to a Cloud based ERP is the potential improvement in your website's conversion rate. Even a small increase in conversion rate can have a substantial impact on your revenue. For example, increasing your conversion rate from 1% to 2% doubles your sales revenue.
Business Insider reported on 20th July, 2022, that improving eCommerce conversion rates is crucial. Even a small increase from 1% to 2% can double sales revenue, highlighting the importance of a robust ERP system to manage and optimise customer interactions (Business Insider).
Your ERP system plays a critical role in your eCommerce success. If it's not designed to support Multi-Channel eCommerce, it’s holding back your business. Finding the right Cloud based ERP solution is essential for scaling your eCommerce operations and maximising your profits.
A solution like?Stok.ly?Cloud ERP is designed to integrate seamlessly with various eCommerce platforms and increase your online sales. By supporting Multi-Channel eCommerce for B2C and B2B sales, with?Stok.ly?you can unlock new growth opportunities and ensure your business thrives in the digital age.
Call us on 01432 804333